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Thu, Sep 28
A Compendium of Property & Capital News
Sep 28

Sale and Lease Assignment Completed by Hunneman to Rhino on New Easton Warehouse

June 20, 2023
530 Turnpike Street, Easton MA (Rendering)

Boston — Hunneman completed the duel sale and lease assignment of 530 Turnpike Street in Easton, MA. Rhino Capital Advisors purchased the industrial facility and the long-term lease of an under-construction warehouse to Beacon Roofing Supply.

Hunneman’s Executive Vice Presidents Ned Halloran, Leeanne Rizzo, Ken Oppenheim, and Assistant Vice President Connor Hayes represented the seller, Easton Golf LLC and procured the buyer, Rhino. The Capital Markets debt placement team representing the borrower was led by Hunneman’s Executive Vice President Andrew Kaeyer and Assistant Vice President Bill Rand - and identified the lender, HarborOne.

“It was a pleasure working with all parties involved during this successful project,” said Hunneman’s Ned Halloran. “We would like to credit the Rhino team for all their efforts to work through the permitting process and securing a long-term lease with Beacon Roofing Supply for the entire facility. This project could not have resulted in a better outcome.”

530 Turnpike Street, is located 1.5 miles from Route 24 at a former driving range. Rhino has completed the entitlement process and has broken ground on a 101,200 SF high-bay warehouse facility. The facility will be a state-of-the-art warehouse and distribution building boasting 36’ clear height and many other modern specifications to meet the needs of today’s warehouse occupiers.

“We are excited to develop this building for our friends at Beacon and are grateful to the Hunneman team for identifying this site, securing our lender, and assisting with finalizing the lease,” said Michael Olson of Rhino.

With the anticipated completion in Q2 2024, a full-building lease was secured for Beacon Roofing Supply to relocate its local operations to the property. Beacon, headquartered in Herndon, Virginia is the largest publicly traded distributor of roofing materials and complementary building products